Terms Used In Illinois Compiled Statutes > 815 ILCS 310 - Bottled Water Act

• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Grantor: The person who establishes a trust and places property into it.
• Lien: A claim against real or personal property in satisfaction of a debt.
• School construction project: means the acquisition, development, construction, reconstruction, rehabilitation, improvement, architectural planning, and installation of capital facilities consisting of buildings, structures, durable equipment, and land for educational purposes. See Illinois Compiled Statutes 105 ILCS 230/5-5
• School district: includes a cooperative high school, if the cooperative agreement includes language that specifies how the debt obligation is to be paid, including if an entity withdraws from the cooperative agreement or the cooperative agreement is terminated. See Illinois Compiled Statutes 105 ILCS 230/5-5
• School maintenance project: means a project, other than a school construction project, intended to provide for the maintenance or upkeep of buildings or structures for educational purposes, but does not include ongoing operational costs. See Illinois Compiled Statutes 105 ILCS 230/5-5
• State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14